Withdrawals (312); Public Relations Revenues (411); Salaries Expense (511); Rent 3. Post the entries to the...
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Withdrawals (312); Public Relations Revenues (411); Salaries Expense (511); Rent 3. Post the entries to the ledger accounts. Make the appropriate posting references in the entity completed the following transactions: Paid rent for August, P6,500. Received cash from customers on account, P23,000. Ordered supplies, P3,800. Billed customers for services rendered, P28,000. Made a payment on accounts payable, P11,000. Received the supplies ordered on August 7 and agreed to pay in thirty days, P3,800. Paid salaries for the first half of August, P19,000. Discovered some of the supplies were not as ordered and returned them for full credit, P800. Received cash from a customer for services rendered, P48,000. Paid the electric and water bill for August, P1,600. Paid the telephone bill for August, P1,200. Received a bill, to be paid in September, for advertisements placed in a national newspaper during the month of August to promote Joel Feliciano Communications, P7,000. Billed a customer for services rendered, P27,000. Paid salaries for the second half of August, P19,000. Withdrew cash for personal use, P12,000. Aug. 2 3 10 12 14 15 17 19 24 25 26 29 30 31 Required: 1. Prepare the journal entries for the August transactions using GJ page 22 and 23. 2. Open the following accounts in the ledger: Cash (111), P102,000; Accouns Receivable (113), P55,000; Supplies (115), P6,100; Office Equipment (141), PA2,000 Accounts Payable (211), P26,000; Feliciano, Capital (311), P179,100; Felician Expense (512); Utilities Expense (513); and Advertising Expense (514). the journal and ledger. 4. Prepare a trial balance, Withdrawals (312); Public Relations Revenues (411); Salaries Expense (511); Rent 3. Post the entries to the ledger accounts. Make the appropriate posting references in the entity completed the following transactions: Paid rent for August, P6,500. Received cash from customers on account, P23,000. Ordered supplies, P3,800. Billed customers for services rendered, P28,000. Made a payment on accounts payable, P11,000. Received the supplies ordered on August 7 and agreed to pay in thirty days, P3,800. Paid salaries for the first half of August, P19,000. Discovered some of the supplies were not as ordered and returned them for full credit, P800. Received cash from a customer for services rendered, P48,000. Paid the electric and water bill for August, P1,600. Paid the telephone bill for August, P1,200. Received a bill, to be paid in September, for advertisements placed in a national newspaper during the month of August to promote Joel Feliciano Communications, P7,000. Billed a customer for services rendered, P27,000. Paid salaries for the second half of August, P19,000. Withdrew cash for personal use, P12,000. Aug. 2 3 10 12 14 15 17 19 24 25 26 29 30 31 Required: 1. Prepare the journal entries for the August transactions using GJ page 22 and 23. 2. Open the following accounts in the ledger: Cash (111), P102,000; Accouns Receivable (113), P55,000; Supplies (115), P6,100; Office Equipment (141), PA2,000 Accounts Payable (211), P26,000; Feliciano, Capital (311), P179,100; Felician Expense (512); Utilities Expense (513); and Advertising Expense (514). the journal and ledger. 4. Prepare a trial balance,
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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